China has ramped up financial support to real economy, as indicated by social financing and loan data in February, according to experts.
Data released on Friday by the People's Bank of China (PBOC) show that at the end of February, the total social financing in China reached 417.29 trillion yuan (about 57.65 trillion U.S. dollars), marking an 8.2-percent increase year on year.
Experts said that the accelerated issuance of government bonds is the main driving force behind the rapid growth of social financing.
"Local governments have been gathering pace in issuing bonds. Among them, bonds which were issued under the debt-for-bond swap program stood at nearly 800 billion yuan, more than one-third of the total for the whole of last year, and more than 600 billion yuan higher than the amount issued in January this year," said Wen Bin, chief economist of China Minsheng Bank.
The rapid growth of net corporate bond financing also provides certain support to the aggregate financing to the real economy, according to relevant experts.
"Since the second half of last year, bond market interest rates have remained generally low. Companies have seized the opportunity to increase bond financing, effectively reducing overall financing costs," said Dong Ximiao, chief researcher of Merchants Union Consumer Finance.
At the end of February, according to the central bank, outstanding yuan loans amounted to 261.78 trillion yuan, up 7.3 percent year on year.
Notably, by the end of February, inclusive loans for small- and micro- businesses went up 12.4 percent to 33.43 trillion yuan, and medium-to-long-term loans for the manufacturing sector grew 10.3 percent to 14.48 trillion yuan, with both figures outpacing overall loan growth.
"Loan data in February show that loans remained at a historically high level, maintaining strong support for the real economy," said Dong.
China beefs up financial support to real economy: experts
The Trump administration's move to cut public funding for the Voice of America (VOA), a propaganda tool for the U.S. government, is due to competing interests and struggles between different political factions, a Chinese expert said during an interview on Monday.
U.S. President Donald Trump on March 14 signed an executive order, which listed the U.S. Agency for Global Media (USAGM), the parent agency of VOA, as part of "unnecessary" federal bureaucracy.
More than 1,300 VOA employees, including journalists, producers and assistants, were reportedly placed on administrative leave on Saturday.
Diao Daming, deputy director of the Center for American Studies at Renmin University of China, shared his insights on why Trump halted funding for the agency during his second term.
"He feels that VOA has not effectively fulfilled its mission to make the United States great again and serve the country's interests. On the other hand, public opinion institutions under the USAGM, including VOA, have been openly critical of Trump, his team, and his administration, particularly regarding certain policies during his first term. After assuming office for a second term, Trump swiftly implemented this tough measure, which is evidently influenced by competing interests and struggles between different political factions," said Diao.
Founded in 1942, the VOA has long served as a political tool for the U.S. government, engaging in ideological confrontation and shaping public opinion. For over 80 years, regardless of whether the Democratic or Republican Party was in power, funding for institutions like VOA remained uninterrupted.
Experts described the VOA as a propaganda machine aimed at ideological infiltration in certain regions, as many of its programs are inaccessible within the United States and are instead broadcast exclusively to specific countries abroad.
"In the past, when I served as a spokesperson for the Ministry of National Defense, I encountered VOA reporters at domestic events, international conferences, and various occasions. They would, for example, selectively ask questions during interviews, selectively edit our responses, and then selectively report and broadcast them. Given such practices, how much credibility can VOA really have?" said Yang Yujun, dean of the Academy of Media and Public Affairs at the Communication University of China.
Trump's cut to VOA due to struggles between different political factions: expert
